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Dear Participant: We are pleased to present SUP Welfare Plan's Summary Plan Description describing the benefits provided by the SUP Welfare Plan. The Plan was established in accordance with Collective Bargaining Agreements between the Sailors' Union of the Pacific and participating employers.

The Plan Description furnishes a brief description of the benefits to which you and your family are entitled, the rules governing these benefits, and the procedures that should be followed when making a claim. This booklet includes certain information concerning the administration of the Plan as required by the Employee Retirement Income Security Act of 1974. We urge you and your family to read this booklet thoroughly so that you will be familiar with the benefits of the Plan. We are pleased to present this booklet describing the benefits provided by the SUP Welfare Plan.

May, 2019

SUP 401(k) and Money Purchase Pension Plans
SUP bargained with all employers under the Collective Bargaining Agreement (Matson, APLMS, Patriot, Foss) to provide two tax advantageous retirement plans:
the Money Purchase Pension Plan, which is funded by an allocation from wages, and the 401(k) plan, which provides participants an opportunity to contribute voluntarily on a tax-deferred basis. Through your 401(k) contributions, you can shelter up to $19,000 ($25,000 if you are age 50 or over) from current taxes. Your contributions are made prior to federal income tax withholding and earn on a tax-deferred basis. You determine the amount of the contributions and the investment selections. Over time, the compounding return of your investments without taxes can help your savings grow considerably more than an equal investment that is taxed annually.

Upon retirement, you can rollover your 401(k) monies to an Individual Retirement Account and continue with the same tax deferred benefit. It is only the money that is withdrawn from the Plan or your IRA that is subject to taxes; the balance continues tax deferred, which will help it last further in retirement.

Forms for enrollment, investment selection and beneficiary designation are available at the www.sailors.org website under the SUP Welfare Plan tab. You may also request forms from your ship captain, or they may be requested from your Port Agent or the SUP Welfare Plan Office. For more information about investment options in either the SUP Money Purchase Pension Plan or 401(k) Plan, please contact The Standard at (800) 858-5420 or log into your account at www.standard.com/retirement. First time users to the Plans website will need to register their account and create a unique user name and password. There are a number of resources through the Plans website—articles, videos, and calculators, etc. — to assist you in planning your future retirement security